Valley National Bancorp to Acquire Bluevine Inc., Accelerating Its Digital Small Business Growth Strategy and Meaningfully Enhancing Its Core Funding Capabilities
Valley National Bancorp (NASDAQ: VLY) agreed to acquire Bluevine, a nationwide digital banking platform for small businesses, for total consideration of approximately $340 million, roughly 75% cash and 25% Valley stock. Bluevine brings $2.1 billion of low-cost digitally-sourced deposits growing at an approximately 35% CAGR, about 175,000 active small business customers, and roughly 180 R&D and engineering professionals to accelerate Valley's digital and AI strategy. The deal is expected to be approximately 8% accretive to estimated 2028 EPS, with about 5% tangible book value dilution at closing and an estimated earn-back period of roughly 3 years.
Key figures
- Deal Value Usd
- $340 million
- Deposit cagr
- approximately 35% from 2023 through Q2 2026
- Tbv dilution
- approximately 5%
- Earnback period
- approximately 3 years
- Consideration mix
- approximately 75% cash / 25% stock
- Deposits acquired
- $2.1 billion
- Bluevine customers
- approximately 175,000 active small business customers
- Eps accretion 2028
- approximately 8%
- Valley total assets
- over $66 billion
AI analysis
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